Next Money
  • Home
  • News
    • Business
    • Cloud
    • Features
    • Identity
    • Insurance
    • Crypto
    • Open Banking
    • Payments
    • Regulation
    • Retail
    • Security
    • Startups
    • Wealth
  • Agency
  • Founders
  • About
  • Privacy policy
Facebook 13K Likes
Twitter 18K Followers
YouTube 807 Subscribers
LinkedIn
Next Money
  • Home
  • News
    • Business
    • Cloud
    • Features
    • Identity
    • Insurance
    • Crypto
    • Open Banking
    • Payments
    • Regulation
    • Retail
    • Security
    • Startups
    • Wealth
  • Agency
  • Founders
  • About
  • Asia
  • Business
  • Europe
  • News
  • South America
  • US

Dutch investor backs Brazilian fintech

  • News Team
  • October 23, 2020
  • No comments
  • 1 minute read
Total
0
Shares
0
0
0

Netherlands-based social impact investor Oikocredit has invested in BizCapital, a Brazilian fintech that provides financial solutions for small and medium-sized enterprises.

Oikocredit has invested US$3m in BizCapital, bringing the company’s total Series B round to US$15m.

The new money will be used in the development of new product offerings and expansion of distribution channels that will allow the fintech to expand its reach to even more SMEs across Brazil.

In June 2020, BizCapital announced its initial Series B investment round, with $US12mn led by the German development finance institution DEG (a subsidiary of  KfW Group, Germany’s promotional bank). Additional investment from MELI Fund (the Corporate Venture Capital Fund of MercadoLivre) as well as Quona Capital, Monashees, Chromo Invest and 42K Investments. 

Francisco Ferreira, BizCapital Co-founder and CEO, said: “We know that small businesses were directly impacted by the COVID-19 crisis, and this additional investment helps BizCapital offer alternative solutions to these entrepreneurs.” 

The impact of COVID-19 is apparent from an increase in total loans processed by the fintech during the pandemic, with 6,000 loans total having been provided from launch until June to nearly 10,000 by September.

Nicolás Arrosa, Equity Analyst, of Oikocredit, added: “Oikocredit is excited to enter into this new partnership and we believe in BizCapital’s growth potential and experienced management team. We support the company’s mission of promoting responsible financial inclusion and generating meaningful social impact by creating thousands of jobs in Brazil.”

Total
0
Shares
Share 0
Tweet 0
Share 0
News Team

Previous Article
  • Europe
  • Asia
  • Business
  • News
  • US

Wirex launches waitlist for “revolutionary” multi currency Mastercard Card

  • Neil Martin
  • October 22, 2020
View Post
Next Article
  • News
  • Business
  • Europe

DIG shines a Beacon on fintechs

  • News Team
  • October 26, 2020
View Post
You May Also Like
View Post
  • Asia
  • Business
  • News

Benefit Vantage named as Best JUMPSTARTER – Fintech

  • News Team
  • March 22, 2021
View Post
  • Asia
  • Business
  • News

Indonesian consumers prefer to use digital channels during crisis

  • Neil Martin
  • March 19, 2021
View Post
  • News
  • Business
  • Crypto
  • North America

Fireblocks Raises $133m To Bring The World’s Biggest Banks And Fintechs Into Crypto

  • News Team
  • March 19, 2021
View Post
  • Australia
  • Business
  • Europe
  • News

Railsbank boss returns to his ancestral roots

  • News Team
  • March 18, 2021
View Post
  • Australia
  • Business
  • Europe
  • News

Railsbank launches in Australia as it continues expansion across APAC region

  • News Team
  • March 18, 2021
View Post
  • Asia
  • Business
  • News
  • Payments

Why is the QR code payment gaining traction in SE Asia?

  • Neil Martin
  • February 23, 2021
View Post
  • News
  • Business
  • Crypto
  • US

Get bitcoins from an ATM

  • Neil Martin
  • February 13, 2021
View Post
  • Europe
  • Business
  • News
  • Payments

Klarna launches bank accounts in Germany

  • News Team
  • February 10, 2021

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Digital Product Consulting & Digital Transformation Services - CreITive
  • Home
  • Agency
  • Founders
  • About us
  • Privacy policy
  • Contact

Copyright © 2020 Next Money Limited

Input your search keywords and press Enter.